Noble Peak wins private placement

Toronto-based Noble Peak Resources (ASE) has entered an agreement with four private investors to raise $750,000.

The placement comprises about $600,000 in flow-through common shares at $1.05 per share and about $150,000 in common shares at $1 per share. Each of the two types of shares will be accompanied by half of a common share purchase warrant which will expire 18 months from the closing date of the placement.

Each whole warrant can be redeemed for one Noble Peak common share at $1.15. If all the warrants are exercised, the company will receive about $415,000. The proceeds will fund ongoing exploration and business operations. Regulators have yet to approve the placement.